PnG; GM; FOMC Rate Cut
Procter & Gamble, the world's largest consumer-products company, said Q3 profit rose 7.9%, on increased sales overseas and higher prices.
Consumers in China, India and Latin America bought more shampoo and makeup as their standards of living improved. Revenues +9.5%
Those sales helped overcome a drop in U.S. demand, where customers worried about job losses and higher energy expenses slowed spending.
GM posted a quarterly loss of $3.25 billion as sales gains in Asia and Latin America,
overshadowed a slump in the U.S. market, The No. 1 U.S. automaker revenues fell 2% as global sales fell 1%.
GM earned $392 million before taxes and items on its auto operations with earnings from Europe,
Latin America and Asia combining to outstrip a $611 million loss in North America.
The FOMC cut 25 bps bringing Fed Funds to 2% and the discount rate to 2.25%.
The statement did not say "downside risks to growth remain".
The absence of this comment indicates the Fed plans to stand pat on rates. Fed presidents Fisher and Plosser both dissented.
Consumers in China, India and Latin America bought more shampoo and makeup as their standards of living improved. Revenues +9.5%
Those sales helped overcome a drop in U.S. demand, where customers worried about job losses and higher energy expenses slowed spending.
GM posted a quarterly loss of $3.25 billion as sales gains in Asia and Latin America,
overshadowed a slump in the U.S. market, The No. 1 U.S. automaker revenues fell 2% as global sales fell 1%.
GM earned $392 million before taxes and items on its auto operations with earnings from Europe,
Latin America and Asia combining to outstrip a $611 million loss in North America.
The FOMC cut 25 bps bringing Fed Funds to 2% and the discount rate to 2.25%.
The statement did not say "downside risks to growth remain".
The absence of this comment indicates the Fed plans to stand pat on rates. Fed presidents Fisher and Plosser both dissented.
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